Finance Minister Chrystia Freeland is expected to announce this morning a plan for potential tariffs to protect Canada's electric vehicle supply chain from unfair Chinese competition.Finance Minister Chrystia Freeland is expected to announce a plan to protect Canada's electric vehicle supply chain from unfair Chinese competition following moves this spring by both the United States and Europe to hike import tariffs on Chinese-made EVs.
Currently, the only Chinese-made EVs imported into Canada are Teslas made at the U.S. tech giant's Shanghai factory. Accusations that China has spurred its own EV industry through unfair subsidies led to both Europe and the U.S. retaliating this spring.U.S. President Joe Biden announced in mid-May that he is hiking tariffs on Chinese EVs from 25 per cent to 100 per cent this year, though there is only one Chinese EV currently available in the U.S.
That plan could change as both Europe and China agreed to negotiations on the matter over the weekend.
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